We investigate fairness properties of Rational expectations equilibria (RE equilibria) in economies with uncertainty and asymmetric information. We consider mixed models consisting of a set of atoms and an atomless sector interpreted, respectively, as traders that are large and small in terms of their influence on the market. Moreover, we assume that infinitely many commodities are present on the market. We provide characterizations of RE equilibria as allocations that are ex-post coalitionally fair.
Coalitional fairness with many agents and commodities / Tarantino, Ciro. - (2014), pp. 9-24. [10.6093/978-88-6887-003-4]
Coalitional fairness with many agents and commodities
TARANTINO, CIRO
2014
Abstract
We investigate fairness properties of Rational expectations equilibria (RE equilibria) in economies with uncertainty and asymmetric information. We consider mixed models consisting of a set of atoms and an atomless sector interpreted, respectively, as traders that are large and small in terms of their influence on the market. Moreover, we assume that infinitely many commodities are present on the market. We provide characterizations of RE equilibria as allocations that are ex-post coalitionally fair.File in questo prodotto:
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